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Rent prices are dropping because more people are becoming homeless or dying. Not good.
by warent 6y ago
Rent prices are dropping because more people are becoming homeless or dying. Not good.
- gjs278 6y agothat is good too. they should have moved somewhere cheaper. lesson learned.
- luxurytent 6y agoThis is a wild claim! Do you have anything to back it?
- throwaway_USD 6y agoRent is falling across the country...Do you believe unemployment skyrocketing to somewhere between 20-40 million people across the Country preceding the rent price crash is coincidence? Do you have an alternative hypothesis why rent across the Country is dropping? If its not a drop in demand...that would suggest the entire Country increased its housing supply at the same time.
- dgfitz 6y agoPerhaps a good percentage of millennials moved back in with parents? Perhaps because lots of people are buying instead of continuing to rent because interest rates are so low? Massive amounts of people dying seems like quite the claim indeed.
- dredmorbius 6y agoThe survey also reports a 1% uptick in national rents Noted in TFA's 2nd paragraph.
- amiga_500 6y agoNothing to do with airbnb flooding the rental market?
- throwaway_USD 6y agoNo, removing rental properties from the market to do short term rentals lowers the supply of rental properties, so AirBnB actually has the effect of raising rental prices. Nevertheless, my understanding is AirBnB and the short term rental market are not exactly doing well during the Pandemic, have you been AirBnBing during Covid?
- tartoran 6y agoI think that’s the OP’s point, Airbnb pushed the rents up and now during the pandemic and sometime afterwards Airbnb is dead in the water so landlords are all seeking to rent longterm instead. Of course, that is one of the factors, other factors being remote work and unemployment.
- kube-system 6y agoI think you interpreted that comment backwards. AirBnB properties have been performing terribly during the pandemic and many of those properties are no longer viable as short-term rentals and are now flooding the traditional rental market at discounted prices or the owners are scrambling to sell them before they default on their loans.
- amiga_500 6y agoExactly.
- DonHopkins 6y agoThe AirBnB meltdown is how I just got 90% more space for 20% less rent in Amsterdam. The house I just rented didn't actually used to be an AirBnB itself, but it went on the market at the same time there was a huge amount of competition from properties that used to rent out on AirBnB.
- throwaway_USD 6y agoI see, AirBnB properties are being converted into traditional rental units increasing supply. If true, then this may suggest there is very good reason to have regulations on short terms rentals, like AirBnB, which have increased rent around the country to the detriment of affordable housing.